A screenshot of his https://coinbreakingnews.info/ shows a current GYEN balance of about $67,000, which he said he can’t trade or transfer. A wallet address is a publicly available address that allows its owner to receive funds from another party. To access the funds in an address, you must have its private key. Learn more about addresses in our Knowledge Base. Ethereum—who have co-opted the digital asset revolution and turned the industry into a minefield for naïve players in the market. After complaining to Coinbase, Alfia claims the company locked him out of his account for two months, making it impossible for him to reverse the $50,000 transaction taken from his Bank of America account.
I believe that this transaction was done internally. Please add me to join this class action, hope to get my lost crypto back. 3) my wallet is connected to my coinbase account where they have all my info where i can easily be verified by coinbase. I still cannot believe how a publicly traded company does not have a higher responsibility to their customers especially as so many of us have encountered similar issues. Coinbase said it was being escalated and they would follow up and I was Locke spurts my account for a month. When I finally regained access all my crypto was gone and now they said they have to escalate it again.
We shouldn’t have to go hunting their status page when the site isn’t having any issues. They can’t even get the basics of customer service figured out. “For customers trading with GYEN up until 19 November, this may have resulted in decimal display issues for transactions , while the wallet balance accurately reflected the amount traded,” the email said. The issue occurred in mid-November when Coinbase customers were able to buy GYEN, a stablecoin that is pegged to the value of one Japanese yen. Also involved in the mishap was POWR, a cryptocurrency designed to be used in energy trading.
Wouldn’t even help me try to work out how it happened. When I notified them 2 days later I get an email wanting to know how well they did WHEN THEY STILL HADNT EVEN CONTACTED ME! The accept zero responsibility and are zero help. GYEN is an ERC-20 cryptocurrency that acts as a stablecoin pegged against the Japanese Yen. The majority of stablecoins are currently dollar pegged meaning they maintain their value as close to the US dollar as they can. Gyen is different in that rather than the dollar the peg is Japanese Yen.
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Using stablecoins such as GYEN removes these issues with transaction times dramatically improved. Stablecoins by nature remove volatility by maintaining a stable peg to a specific currency, in this case the Japanese Yen. This allows for the benefits of cryptocurrency without the inherent volatility of a speculative asset such as we see with non-stablecoins (BTC, ETH etc.). This opens up opportunities for those institutions and users working with stablecoins. I had been using a PREPAID coinbase visa card–this is money that belongs to me. After making a handful of purchases successfully the card started getting declined even though it has a $750 balance and I didn’t violate the user agreement.
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Apparently coinbase wallet is separate from coinbase. My token allowance had been set so that these hackers could take unlimited amounts of money from my wallet anytime they wanted to. This whole situation has completely turned me off to crypto as a whole. I sincerely thank you Samuel Alioto for being the first reporter to break this story. Coinbase listed this coin for 3 days before delisting and freezing all holders assets as account restricted Currently no holder can buy sell or transfer. That broke untethered and went all the way to .06 cents.
Arbitrum Adoption Grows Ahead of ARB Token
Oh but they’ll give you $10 in bitcoin for your troubles if you spend hours complaining over and over and over. Some customers had already converted their GYEN and POWR to other digital assets, such as Bitcoin. Other customers sent their GYEN and POWR to wallets off the Coinbase platform, but kept other digital assets on the Coinbase platform. I traded all my 1,600 and put on gyen as I seen the pump. My 1600 is worth 333 now and will remain. Coinbase let a stable coin become unstable.
I owned just $400 worth of GYEN, but it suddenly was worth $8800, after someone sent me around 1 million GYEN. Before they froze it, the crypto-currency which should be fixed at the price of one yen, rose to 5 cents each. GYEN should be worth .88 cents each (less than one U.S. cent), the value of the real Japanese Yen.
Tell us your Coinbase complaint
Thall alleges that he was coinbase delist gyened by his bank that his Coinbase wallet containing about $8,000 in Bitcoin may have been hacked. Thall says that when he brought up his concerns to Coinbase, he was similarly locked out of his account for an extended period of time. In the days leading up to the data rollout error, between November 16 and November 19, Coinbase Exchange observed GYEN-USD break parity when compared to JPY/USD. We have seen customers speculate on social media that this incident was somehow related to this break in parity. We have also seen customers speculate that this break in parity was somehow caused by Coinbase.
It’s not my fault that ya made the mistake. U need to catch it when it’s high and sell.my account was frozen until this morning. My 15 million coins went to 150k coins today.
Coinbase, the most trusted, publicly traded US crypto exchange negligently listed it. The same occurred on 5/12 with GYEN on Binance, and they quickly delisted- but Coinbase chose to list anyway. It’s understood crypto has risks- and yes many read the white paper and researched before buying. It appeared the coin untethered and was moving on pure free market.
thoughts onCoinbase Wallets Hacked, Frozen Without Warning, Claims Class Action Lawsuit
Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. Well, I put $500 usdt in my coinbase wallet and was hacked as soon as I did. They closed my account and I had to go through the steps to open it up again. I then spoke to several agents and one of said since this is not your fault we will take care of this.
- I was instructed by the scammer to do so.
- The latter firm is also representing plaintiffs in a case filed against Coinbase and GMO-Z.com Trust on May 13 regarding the exchange’s delisting of yen-backed stablecoin GYEN in November.
- My account said 60usd because I had USD saved to use my Coinbase card at the store.
- Increase from one day ago and signalling a recent rise in market activity.
- The information set forth herein should not be taken as financial advice or investment recommendation.
Receive SMS text message alerts by simply verifying your phone number. Standard SMS rates and some restrictions apply. “Transactions may be declined for a variety of reasons, especially if the transaction looks fraudulent or violates the user agreement. For security reasons, we are not able to provide specific information on how we made a determination to decline a transaction.” Additionally, a link was provided that explained why the card can get declined. Remote computer takeovers come in many forms.
I talked to the fraud department and they sent me to the disputes department and they were going to investigate which after 2 weeks produced nothing. Then I filed a complaint and that process took a month to complete with no results. Then 6 months after my account was opened I received a transfer that was 72% less that what I would have had if the money was transferred when the account was opened. I asked them where has the money been for 6 months and they said it was credited to your account. I didn’t see anywhere that it was credited to my account. Now I am a widow and needed that money and because of the incompetency of coin base I am out of that money and there was no explanation the whole time about where the money was.
Customize alerts based on market price, volume, volatility, exchange listings, wallet monitoring, ETH gas fees, and Bitcoin mempool size. Hi Ca you please add me, my coinbase wallet was hacked and coinbase do not give me any solution. I experienced the exact same thing in August 2021, account still frozen and the $1,200 in Coinbase wallet unknown if still there or not. Coinbase customer service not present, not answering on line requests for assistance or information. If this were a bank doing the same thing people would be in the streets.
In other words, the break in parity occurred before the data rollout error and the two issues had nothing to do with each other. Two large charges were made to my bank account from Coinbase and my cryptocurrency of Ethereum Classic and Zrx were drained. The response from Coinbase has been aweful and they refuse to give full reimbursement for my closet cryptocurrency which would’ve been close to $2,000. I definitely want to be added to this class action lawsuit. I had over 68 millions tokens of Shiba transferred from another online exchange into my coinbase.com account at 8pm on Oct. 30. I figured to be safe, I transferred them into my Coinbase wallet latter that night, and the total showed up in the wallet with no issue.
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Since creating wallet in march always used my pin number to access my wallet. After I was logged out now it asked for the recovery phrase to recover wallet. Numerous people on reddit complaining same happen to them. The hacker then used my bank debit card on file to buy $550 worth of new cryptocurrency.